Following the release of the project’s value for money report, carried out by KPMG, the firm revealed that the P3 model had led to savings of 13%.
A total investment of $635m is being made in the new schools including the cost of design, construction, finance, and more than 30 years of maintenance. KPMG’s report confirms the same project would have cost $735m if it was delivered through a traditional approach.
“P3s are faster, better, and lower cost and this report by KPMG confirms that taxpayers are getting a better deal by using this innovative approach rather than a traditional method,” SaskBuilds Minister Gordon Wyant said. “These schools will be delivered on time and on budget, and they will be maintained in like-new condition for more than three decades.”
The project reached financial close in August after the government signed the deal with preferred bidder the Joint Use Mutual Partnership (JUMP), featuring Concert Infrastructure and Bird Capital.
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